Dai ichi Life Insurance Company Ltd Decreases Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Dai ichi Life Insurance Company Ltd cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 11,378 shares of the apparel retailer’s stock after selling 157 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Ross Stores were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Clearstead Advisors LLC increased its position in shares of Ross Stores by 458.0% during the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after purchasing an additional 229 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Ross Stores by 52.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 83 shares during the period. Rock Creek Group LP bought a new position in shares of Ross Stores during the 3rd quarter worth $35,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Ross Stores during the 4th quarter worth $51,000. Finally, Mendota Financial Group LLC bought a new position in shares of Ross Stores during the 4th quarter worth $61,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Price Performance

Shares of NASDAQ ROST traded up $10.73 during mid-day trading on Friday, reaching $142.59. The company’s stock had a trading volume of 978,750 shares, compared to its average volume of 2,127,534. The firm has a market capitalization of $48.01 billion, a PE ratio of 25.65, a P/E/G ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The stock has a fifty day moving average of $136.91 and a two-hundred day moving average of $137.42. Ross Stores, Inc. has a 52 week low of $100.66 and a 52 week high of $151.12.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 5th that allows the company to repurchase $2.10 billion in shares. This repurchase authorization allows the apparel retailer to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.3675 per share. The ex-dividend date is Tuesday, June 11th. This represents a $1.47 annualized dividend and a yield of 1.03%. Ross Stores’s payout ratio is currently 26.44%.

Insiders Place Their Bets

In other news, insider Michael K. Kobayashi sold 13,860 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.46, for a total value of $2,043,795.60. Following the completion of the sale, the insider now owns 61,657 shares of the company’s stock, valued at approximately $9,091,941.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Michael J. Hartshorn sold 21,056 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael K. Kobayashi sold 13,860 shares of Ross Stores stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the transaction, the insider now owns 61,657 shares of the company’s stock, valued at approximately $9,091,941.22. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock worth $10,396,178 in the last ninety days. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ROST. BMO Capital Markets increased their price target on Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Guggenheim increased their price target on Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Morgan Stanley increased their price target on Ross Stores from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group raised their target price on Ross Stores from $145.00 to $147.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Citigroup raised their target price on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and an average target price of $155.68.

Ross Stores Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.